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they're worried about the fiscal cliff. their taxes are going to go up so the heavy lifters in this economy, which are the affluent, aren't going to spend this year. that's bad. >> talk about warren buffett, always willing to stir the pot. op-ed in the "new york times" this morning, he says that the rich pay a lower tax rate on their incomes than the middle class does. it's a point he's made before. as robert frank points out, what mr. buffett does not mention is that, on average, very few americans actually pay their official tax rate. >> that's right. we're going to get into this a lot more on "street signs." people can read it on cnbc.com today. the other important point to make on this, it is just not a lot of money and it is not a lot of people. it is sort of a minor problem in the grand scheme of the economy. it is really about .1% of the taxpayers and it's maybe $5 billion to $10 billion a year. relative to a $1 trillion deficit -- not saying it's nothing, but it's just such a tiny amount -- >> people at his income l
they're worried about the fiscal cliff. their taxes are going to go up so the heavy lifters in this economy, which are the affluent, aren't going to spend this year. that's bad. >> talk about warren buffett, always willing to stir the pot. op-ed in the "new york times" this morning, he says that the rich pay a lower tax rate on their incomes than the middle class does. it's a point he's made before. as robert frank points out, what mr. buffett does not mention is that, on...
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who's afraid of going off the fiscal cliff? well, not anti-tax crusader grover norquist who tells "the wall street journal" he thinks republicans will hold the line on taxes. and if there's no deal, norquist isn't worried, telling "the journal," the woerld won't come to an end if this isn't resolved before january. meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle of omaha writes, "let's forget about the rich and the ultrarich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased." >>> after weeks of criticism over u.n. ambassador susan rice, senator john mccain who vowed to block her potential nomination as secretary of state appears to be backing off that threat. >> she could conceivably get your vote for secretary of state? >> i think she deserves the ability and the opportunity to explain herself and her position, just as she said. >>
who's afraid of going off the fiscal cliff? well, not anti-tax crusader grover norquist who tells "the wall street journal" he thinks republicans will hold the line on taxes. and if there's no deal, norquist isn't worried, telling "the journal," the woerld won't come to an end if this isn't resolved before january. meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle...
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pink unicorns, part of the fiscal cliff discussions now. let me bring in cnn contributor anna navarro who claims she has never seen me during the daylight. great to see you during the daylight, anna. >> how are you, john? >> good, i'm doing well, thank you is this over tour, these statements from the people like saxby chambliss, lindsey graham, is this what people are hoping to see in terms of reaching a deal? >> i think it's an important moment. i think what people are saying is, this is not about pledges. let's not allow for the tail to wag the dog. this is not about a pledge. this is about finding a solution. let's not be boxed in. let's have the ability to be creative, think outside the box. and come up with a solution that works for america. and i think they're getting sick of being held to pledge here, pledge there. you know, it's almost like read my lips. no new pledges. >> let me just read the pledge, so people know what we're talking about here. it says, number one, oppose all efforts to increase the marginal tax rates for individu
pink unicorns, part of the fiscal cliff discussions now. let me bring in cnn contributor anna navarro who claims she has never seen me during the daylight. great to see you during the daylight, anna. >> how are you, john? >> good, i'm doing well, thank you is this over tour, these statements from the people like saxby chambliss, lindsey graham, is this what people are hoping to see in terms of reaching a deal? >> i think it's an important moment. i think what people are saying...
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congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed, to oppose tax increases of any kind. that once solid wall was showing cracks. >>> the pledge you saw 18 years ago, 20 years ago was for that congress. the world has changed and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree to changes in social security and medicare. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> reporter: activists on the left are lining up to oppose those reforms, but the president has
congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all...
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and just 35 days left until we reach the fiscal cliff. a lame duck congress heads back to capitol hill beginning this afternoon. we're seeing a hint of compromise in the air. several key republican senators signaling that they are willing to consider breaking their no tax vows to get a budget plan passed. according to a new cnn/orc poll, that's exactly what you want to hear. 67% say a mix of tax hikes and spending cuts is the best way to avoid a fiscal cliff crisis. cnn political editor paul steinhauser, he is live in washington for us this morning. nice to see you, paul. so falling off the fiscal cliff means severe spending cuts and tax hikes, automatically kick in. so how worried are most americans? i understand you have some numbers for us. >> i do have more numbers from that new cnn/orc national poll. americans are concerned about how it will affect them directly. almost four in ten said if the country falls off the fiscal cliff they will be impacted a great deal. or somewhat. look at this. another four in ten say somewhat. only about
and just 35 days left until we reach the fiscal cliff. a lame duck congress heads back to capitol hill beginning this afternoon. we're seeing a hint of compromise in the air. several key republican senators signaling that they are willing to consider breaking their no tax vows to get a budget plan passed. according to a new cnn/orc poll, that's exactly what you want to hear. 67% say a mix of tax hikes and spending cuts is the best way to avoid a fiscal cliff crisis. cnn political editor paul...
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on this monday are this signs of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". mo
on this monday are this signs of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this....
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cliff. a family with a $40,000 to $65,000 in annual income would pay an average of $2,000 in additional taxes. >>> and if you don't want to sound smart, well -- >> that's easy. >> -- just quote what we're about to tell you. >> go over to louis. >> enough of the real sweet. let's go over to sweet boy lou, pretty boy lou, whatever you want to call him, at the water cooler. >> it's time to gather around the water cooler to check out how mitt romney spent his thanksgiving. >> that's what i want to know. i was just asking mika, i wonder. >> here he is smiling minus the dark suit. a little bedhead. they posted this photo on facebook with wife, ann, the morning after thanksgiving. he said i hope everyone had a great thanksgiving. on his facebook page, much to be thankful for this year. >> not for a lot of republicans, mitt. a lot of republicans aren't thankful right now. >> they look happy. >> things were a little less warm and cozy for joe biden for his annual trip to nantucket. he took an early-m
cliff. a family with a $40,000 to $65,000 in annual income would pay an average of $2,000 in additional taxes. >>> and if you don't want to sound smart, well -- >> that's easy. >> -- just quote what we're about to tell you. >> go over to louis. >> enough of the real sweet. let's go over to sweet boy lou, pretty boy lou, whatever you want to call him, at the water cooler. >> it's time to gather around the water cooler to check out how mitt romney spent his...
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the country is teetering on a fiscal cliff right now. and now a rare sighting of an endangered species here in washington. we're talking about compromise. some powerful republican lawmakers are rethinking their anti-tax pledge. i'll talk about wit the number three gop leader in the house of representatives. >>> plus, how iran is rearming hamas in the wake of its latest battle with israel. >>> i'm wolf blitzer. you're in "the situation room. " >>> republicans contemplating tax hikes. democrats weighing entitlement cuts. positions largely unthinkable not that long ago. they're taking shape going toward the fiscal cliff w. the new year, severe tax increases and severe spending cuts will automatically take effect unless congress and the white house reach a debt reduction agreement and there are signs each party's sacred cows may be up for slaughter. i want to pick your brain on how far you're willing to go in that area as far as medicare cuts, social security, raising the retirement age, along those lines. all of that is on the table, right?
the country is teetering on a fiscal cliff right now. and now a rare sighting of an endangered species here in washington. we're talking about compromise. some powerful republican lawmakers are rethinking their anti-tax pledge. i'll talk about wit the number three gop leader in the house of representatives. >>> plus, how iran is rearming hamas in the wake of its latest battle with israel. >>> i'm wolf blitzer. you're in "the situation room. " >>> republicans...
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we asked the effect of this fiscal cliff. if the country goes off the fiscal cliff, the effect on you. look at that. 24% say it's a crisis. 44% say major problems. who would be responsible if there is no agreement? the blame game. take a look at that number as well right there. put that back up. who would be most responsible? 45% say the republicans in congress. 34% say he would. 15% say both sides would be blamed. one other takeaway? people want mixture. they're not very optimistic a deal will get done. >> let's talk about grover norquist for just a bit, paul. so most americans want taxes raised on the wealthiest americans. we just saw your poll there that 45% of americans would blame republicans if there's no compromise reached to avoid this fiscal cliff. so why is grover norquist still so powerful? why does any republican care? >> well, this pledge has been around for 25 years. that's a long time. it stood through a lot of different crises. take, for instance, saxby chambliss and lindsey graham. both up for re-election in
we asked the effect of this fiscal cliff. if the country goes off the fiscal cliff, the effect on you. look at that. 24% say it's a crisis. 44% say major problems. who would be responsible if there is no agreement? the blame game. take a look at that number as well right there. put that back up. who would be most responsible? 45% say the republicans in congress. 34% say he would. 15% say both sides would be blamed. one other takeaway? people want mixture. they're not very optimistic a deal will...
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we think fiscal cliff will be resolved in large part. creating opportunity if you have done your homework and you have long-term discipline, use vo volatility to your advantage. great cash position. europe has good companies. china will stimulate. not like in 2009 but it will be there. i think the death of equities and u.s. market is greatly exaggerated. you do have to do your homework because short-term volatility will give you opportunities and challenges. >> after what we hear this weekend, does it make sense to focus on discretionary going into year end? >> it does. it has coming into the third and fourth quarter. again, pick your battles. understand what you're getting into. name specific analysis is critical. build that portfolio. look globally. it's more than just a u.s. story. looking into europe, emerging markets if you have a longer term time horizon. commodities. all of these things are going to be part of it and nickel and dime your nay. we don't swing for the fences. >> good stuff. thanks very much. >>> next on the program,
we think fiscal cliff will be resolved in large part. creating opportunity if you have done your homework and you have long-term discipline, use vo volatility to your advantage. great cash position. europe has good companies. china will stimulate. not like in 2009 but it will be there. i think the death of equities and u.s. market is greatly exaggerated. you do have to do your homework because short-term volatility will give you opportunities and challenges. >> after what we hear this...
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talking about the fiscal cliff. everyone comes back to work . wonder if they will get to work and cut the deals. republicans made it clear they are willing to budge when it comes to the 20 year pledge not to raise taxes that glover norquist had everyone sign before they took office. >> steve: grover norquist has hundreds of republicans to do that. clearly with the fiscal cliff comment and automatic spending cuts and taxes go up on everybody. something has to be done. the feeling is that it will happen two now. republicans have beenadament and said we can't raise taxes on anybody. and glover norquist said as long as you don't raise tax rates that is okay. and lindsay graham on that. >> i agree we shouldn't raise rates but i think grover is wrong to cap and buy down debt. what do you do with the money and i will violate the pledge for the good of the country only if the democrats do entitlement reform. >> gretchen: i think the pledge thing is good and bad. if you are a republican and believe that raising taxes is the wrong they think that and fine
talking about the fiscal cliff. everyone comes back to work . wonder if they will get to work and cut the deals. republicans made it clear they are willing to budge when it comes to the 20 year pledge not to raise taxes that glover norquist had everyone sign before they took office. >> steve: grover norquist has hundreds of republicans to do that. clearly with the fiscal cliff comment and automatic spending cuts and taxes go up on everybody. something has to be done. the feeling is that...
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built into law, the so-called fiscal cliff. the realization of all the automatic tax increases and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to recovery. indeed, by the reckoning of the congressional budget office, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. second, early in the new year it will be necessary to approved an increase in the federal debt limit. the threat of default in the summer of 2011 fueled economic uncertainty and badly damaged confidence even though an agreement was ultimately reached. a failure to reach a timely agreement this time around could impose even heavier economic and financial costs. as policy makers face these critical decisions, they should keep two decisions in mind. first, the federal budget is on an unsustainable path. the budget deficit, which peaked in 2009, is expected to narrow further in the coming years as the economy continues to recover. however, the cbo
built into law, the so-called fiscal cliff. the realization of all the automatic tax increases and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to recovery. indeed, by the reckoning of the congressional budget office, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. second, early in the new year it will be necessary to approved an increase in the federal debt limit. the...
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35 days left till we reach the fiscal cliff. and a couple of key republicans are now suggesting that they're willing to forego their no tax pledge to try to get a budget deal done and avoid massive tax hikes, and spending cuts that will come in the new year. brand-new cnn/orc poll shows that is, in fact, affecting the american people. 68% say they believe falling off the fiscal cliff could trigger major problems for the country, maybe even a crisis. brings us to dan lothian at the white house this morning. dan, good morning. senate goes back to work this afternoon. the house will return tomorrow. what could really be done by lame duck congress? >> well, look, the hope is that there will be some kind of compromise here, because as you pointed out most americans believe that if there is no agreement there really could be a crisis here. so you are seeing some softening from republicans who took that no tax pledge back to 1986. first it was saxby chambliss. now south carolina republican senator lindsey graham. take a listen. >> when
35 days left till we reach the fiscal cliff. and a couple of key republicans are now suggesting that they're willing to forego their no tax pledge to try to get a budget deal done and avoid massive tax hikes, and spending cuts that will come in the new year. brand-new cnn/orc poll shows that is, in fact, affecting the american people. 68% say they believe falling off the fiscal cliff could trigger major problems for the country, maybe even a crisis. brings us to dan lothian at the white house...
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busy days at the white house now with the fiscal cliff looming. what is it 36 days left i think, before we might go over the cliff. what is on the president's agenda, david jackson covers the white house for "usa today." how are you? >> fine bill. how are you? >> bill: good. i missed my favorite event of the year, last week which was the pardoning of the thanksgiving day turkey. >> absolutely. he cracked a few jokes, making crack about something like his last gift. and he also made a nate silver joke. >> bill: oh, did he? >> yeah, saying nate silver was right on on which turkey would be pardoned this year. >> bill: that's great. i read in the tribune the fact that there was a big turn out of the press corps. >> yeah a lot of reporters brought family and friends because it's an easy event to get people into. >> bill: well, it is the party season. i got my invitation to the annual christmas party. >> yeah, the number keeps going up exponentially, but i think it is about 20. and he'll be shaking thousands of hands. they stand there in some room off o
busy days at the white house now with the fiscal cliff looming. what is it 36 days left i think, before we might go over the cliff. what is on the president's agenda, david jackson covers the white house for "usa today." how are you? >> fine bill. how are you? >> bill: good. i missed my favorite event of the year, last week which was the pardoning of the thanksgiving day turkey. >> absolutely. he cracked a few jokes, making crack about something like his last gift....
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we will go over the fiscal cliff. >> staffers have a working behind the scenes to find common ground to avoid cuts that should be concerning for everyone. >> they should be worried if we have a defense job or if we are dependent on others of the federal budget. the regulation of our food safety, and our borders being secure. or fbi. >> the sticking point is what to do about taxes. the democrats want to raise taxes for the wealthy and republicans to not. the anti-tax crusader had gotten a majority of the " law makers to pledge not to support any effort to raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long story short. for this country of democrats will do entitlement changes. >> is not we clear when it will meet next a deal could be well off. >> we rarely see the will and the white house make decisions, early. i would be pleasantly surprised to see a deal emerge earlier than at the end of the year but we will see >> this week could bring them one step closer. >> human error i
we will go over the fiscal cliff. >> staffers have a working behind the scenes to find common ground to avoid cuts that should be concerning for everyone. >> they should be worried if we have a defense job or if we are dependent on others of the federal budget. the regulation of our food safety, and our borders being secure. or fbi. >> the sticking point is what to do about taxes. the democrats want to raise taxes for the wealthy and republicans to not. the anti-tax crusader...
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can he put this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> the noshlts has just listed jack kennedy elusive hero moon the best-seller list. it's a big honor for the paperbook edition. it's a great book of american heroism, the story of jack kennedy, who he was when he lived, who led us, and, of course, who inspired us. it's a perfect upbeat gift for yourself or someone who shares our love of history and american greatness. we'll be right back. were a spac, zeebox would be an alien, first officer. just like an officer helps a captain explore the universe, zeebox helps you discover what shows are most popular, where the biggest buzz i
can he put this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>>...
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>> absolutely, yeah. >>> gaming the fiscal cliff as another company accelerates the dividend payment, are there more special dividends ahead? and from an energy company to a footwear maker. we're tracking some of the day's biggest movers. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do mor
>> absolutely, yeah. >>> gaming the fiscal cliff as another company accelerates the dividend payment, are there more special dividends ahead? and from an energy company to a footwear maker. we're tracking some of the day's biggest movers. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size...
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whereas businesses are not, and businesses tend to be more worried about things like the fiscal cliff, they're more worried about the troubles in europe, they're more worried about the slowdown in china. you do have the disconnect. the big concern is which way is it going to go? who is going to win this tug-of-war? so far it's the consumer but let's hope it's not the other direction because as i said, let's hope that the businesses will eventually come around to thinking about things the way consumers are. . >> brown: nancy cohen, i want to come back to you on the question of online shopping and the changed landscape. does the rise of online shopping have a real impact on the economy or is it sort of shifting, transferring, where people buy their things? >> well, that's a very open question, partly because this is so new. the marriage and the magic of online plus brickes and mortar. i mean, there's no question people are visiting online web sites more often than they do stores. whether that adds up to incremental organic growth is a question we just don't know. remember, we're startin
whereas businesses are not, and businesses tend to be more worried about things like the fiscal cliff, they're more worried about the troubles in europe, they're more worried about the slowdown in china. you do have the disconnect. the big concern is which way is it going to go? who is going to win this tug-of-war? so far it's the consumer but let's hope it's not the other direction because as i said, let's hope that the businesses will eventually come around to thinking about things the way...
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the debate on the fiscal cliff is about entitlement programs. and i watched some of my friends on the left, on the democratic side saying don't touch the entitlement programs. they're ignoring the obvious. medicare untouched, unchanged, unamended runs out of money in 12 years. i plan on being around for 12 years. a lot of folks who are seniors do too, and those who anticipate retiring expect it to be there beyond 1 years. we need to do something. to say we're not going to touch medicare is to ignore the obvious. i don't want to go the paul ryan budget route of voucherrizing it, making it so expensive seniors can't pay for it but if we don't put our best talents together and make medicare a program that lasts beyond 12 years we are not meeting our obligation to the offices that we ran for. the last point, medicaid. what is medicaid? medicaid is insurance, health insurance for the poor. one out of three children in the state of illinois, their only health insurance is medicaid. more than half of the births in illinois, the prenatal care and well b
the debate on the fiscal cliff is about entitlement programs. and i watched some of my friends on the left, on the democratic side saying don't touch the entitlement programs. they're ignoring the obvious. medicare untouched, unchanged, unamended runs out of money in 12 years. i plan on being around for 12 years. a lot of folks who are seniors do too, and those who anticipate retiring expect it to be there beyond 1 years. we need to do something. to say we're not going to touch medicare is to...
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--cliff >> when you look at the fiscal cliff from far away it looks like a drop. it is more like a staircase. the debt ceiling is how this all began and it is the total amount the government can borrow to meet its existing obligations. we headed at the end of 2012, though the fall can be avoided toe 2013. the treasury department deems that extraordinary measures. in 2011 house republicans refused to raise the debt ceiling. without an agreement the result was a debacle. as a downgrading u.s. credit for the first time in history. without a new deal on january 1st tax hikes will kick and very 661 billion for next year alone and that includes the expiration of the so-called must tax cuts. -- the bush americans will start to feel those with the first paychecks of the new year arrive. sequester kicks in january 2nd and those cuts amount to $78 billion next year. several companies with government contracts of already pulled back on hiring. some have slowed work. most americans will not truly feel the effects of these sequestered until the middle of next year. layoffs are
--cliff >> when you look at the fiscal cliff from far away it looks like a drop. it is more like a staircase. the debt ceiling is how this all began and it is the total amount the government can borrow to meet its existing obligations. we headed at the end of 2012, though the fall can be avoided toe 2013. the treasury department deems that extraordinary measures. in 2011 house republicans refused to raise the debt ceiling. without an agreement the result was a debacle. as a downgrading...
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. >>> there is talk of compromise tonight on capitol hill to avoid the fiscal cliff. republican senator lindsey graham says he may break his pledge to anti-tax lobbyist grove norquist. >> i'm willing to generate revenue. we're below historic advantages. i will not raise tax rates. i will cap deductions and long story short for the good of the country only if democrats will do entitlement reform. >> all the president that i have served with including reagan, clinton and the first george bush moved away from the position of no additional tax. >> they all added revenues to deficit reduction. >> without a bipartisan plan the bush-era tax cuts are expected to retire jarn 1st and spending cuts may kick in as well. they anticipate a second face- to-face meeting with president obama as soon as this week. >>> also in washington republican senator john mccain backed off from fiery criticism of un un ambassador susan rice about the attack in libya. >> i think she deserved the ability to explain herself and her position as she said, but she is not the problem. the prose problem i
. >>> there is talk of compromise tonight on capitol hill to avoid the fiscal cliff. republican senator lindsey graham says he may break his pledge to anti-tax lobbyist grove norquist. >> i'm willing to generate revenue. we're below historic advantages. i will not raise tax rates. i will cap deductions and long story short for the good of the country only if democrats will do entitlement reform. >> all the president that i have served with including reagan, clinton and the...
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Nov 26, 2012
11/12
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off the four members are dim negotiations to avert the so-called fiscal cliff. live coverage of the senate here on c-span2. >> if you listen to mayor bloomberg who said that the damage was unprecedented, that it may be the worst storms of the city has ever faced and the tidal surge, previous high was 10 feet for the storm. it was 14. governor christie said the damage in new jersey was unthinkable. we had fires. we had hurricane force winds. we had massive flooding. we had snow. if you look at that and look at the flooding in the the subway systems that the shutdown of the stock exchanges. you start to get the sense a massive scale and scope of this storm. and yet the networks performed. i mean, i've read dozens of stories over the last couple of weeks about how for many consumers their only link to information, their only tie to any sort of information or to people was through their smartphone. linking social media and their smartphone. so while there was an impact on cell sites, i think the networks performed really, really pretty well spent by a assessment her
off the four members are dim negotiations to avert the so-called fiscal cliff. live coverage of the senate here on c-span2. >> if you listen to mayor bloomberg who said that the damage was unprecedented, that it may be the worst storms of the city has ever faced and the tidal surge, previous high was 10 feet for the storm. it was 14. governor christie said the damage in new jersey was unthinkable. we had fires. we had hurricane force winds. we had massive flooding. we had snow. if you...
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Nov 26, 2012
11/12
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how to avoid going over the so-called fiscal cliff? if they do not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks for the highest earnings and republicans argued spending cuts are the way to get the deficit under control. are we starting to see a softening of those positions on both sides? >> reporter: here's what there's agreement on. both sides, both parties agree that the wealthiest have to pay more, and the question now and the sticking point at this stage is how do you go about making the wealthiest pay more? do you do it by raising the tax rates? that's what president obama wants to do. wants to raise the tax freights 35% where they are now up to where they were d
how to avoid going over the so-called fiscal cliff? if they do not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks...